Ann: Presentation on Full Year 2021 Results, page-16

Mr Todd Barlow (MD/CEO of SOL) made a lot of comments today at a presentation for FY 21 results. Here are some relevant brief extracts from 'The Australian' online:

"Washington H. Soul Pattinson says thermal coal still has a future given it is the main source of power generation across the globe, as the fossil fuel helped propel the listed investment house to a 93 per cent lift in underlying profit...

...Soul Patts’ market capitalisation (is) $10.8bn - coal will comprise around 8 per cent of its investment portfolio.

Mr Barlow was not fazed about a trade stoush with China, which has included thermal coal, saying that New Hope doesn’t supply much of the Chinese market now.

“Thermal coal is a global market, as are most commodities. And when you see China putting in place these bands and it really just creates a switching from other supplies.

“So it has been a fairly seamless switching of markets and we don’t supply very much to China anymore.

“That‘s true of Australian producers since the bans taking place. I think when you look at these things you need to look at the global face and you wouldn’t want to have a business that is entirely reliant on China at the moment. It’s important to look at the new global supply and demand characteristics.”...